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The Cleveland Browns announced Monday that linebacker D'Qwell Jackson has agreed to a multi-year contract extension.

The team did not announce the terms of the deal, but a league source told NFL Network's Jason La Canfora the five-year extension is worth $42.5 million overall and includes $19 million guaranteed.

The Browns had reportedly been set to apply the franchise tag to Jackson had the sides not reached an agreement.

"Signing this extension was the No. 1 priority for us as an organization this offseason," Browns president Mike Holmgren said at a news conference Monday.

"There's not a finer guy on our team as a person ... I'm very excited about this," Holmgren added.

Jackson registered 158 tackles and a career-high 3.5 sacks this season after missing parts of the 2009 season and all of 2010 with torn pectoral muscles.

"It's definitely a blessing, you know, as I sit here today," Jackson said.

He said he "thought it was a fairly easy decision" to return to the Browns, once the business-side of things was worked out.

A team leader, the 28-year-old Jackson finished second in voting for the league's Comeback Player of the Year Award to Detroit quarterback Matthew Stafford. Jackson was taken by the Browns in the second round of the 2006 NFL Draft. He has 565 tackles and 6.5 sacks in six seasons with the team.

With Jackson signed, it's possible the club could use its franchise tag on kicker Phil Dawson for the second straight year.